probably the same reason many of us invested in MCO and many other feel good storys , telling of the riches of bygone years and how the old timers mined at 26.5 grams or more in some mines cases. without looking further into why those grades were achieved and not understanding that those grades are unlikely to ever be achieved again with modern methods . Sure with an ore sorter they probably could be replicated , but the waste and developent still has a huge cost that with modern occ health and safety and wages make most of these deposits cash flow negitive with current gold prices. The asx is littered with gold companys having cap raising after cap raising and not ever making a divi payment. and geventually going bust, being reberthed or taken over. However there are still some rich reefs that are still being found in some mines that are an exeption. for majority of holders i hope Mcnallys comes good. Just imo dont believe that just because there is some visible gold , asume its going to be very profitable before the Lie detector ( milL ) tells the full story.
AUL Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
